guam housing corporation

AGENDA; REGULAR BOD MEETING OF March 24, 2015

GUAM HOUSING CORPORATION

REGULAR BOARD OF DIRECTORS MEETING OF Tuesday, March 24, 2015

AGENDA

I. Call to Order

II. Roll Call

III. Approval of Board Minutes

- Regular Board of Directors Meeting of February 25, 2015

IV. Legal Report

V. New Business

1. Lada Estates Amended Clarification Affidavit

2. Board Resolution regarding Federal Home Loan Bank of Des Moines

3. Request to increase imprest fund from $100.00 to $150.00

VI. Reports

1) President’s Report - Chairman Discussion

2) Management Reports

A. Accounting Report

B. QAO Report

C. Loan Activity Report

D. Rental Report

VII. Public Participation

VIII. Miscellaneous

IX. Adjournment

GUAM HOUSING CORPORATION BOARD OF DIRECTORS REGULAR MEETING

HELD 25 FEBRUARY 2015

MINUTES OF REGULAR MEETING

I. Call to Order:

The regular meeting of the Guam Housing Corporation Board of Directors was called to order on 25 February 2015 at 1525 at GHC Offices, Tamuning, Guam.

II. Roll Call of Directors:

Members present included the following;

Francisco Florig, GHC Chairman Sandra Bordallo, Member Tom Flores, Member Fe Ovalles, Member

For Management and Employees;

Martin Benavente, President Michael Martinez, Manager Caesar Villanueva, Spc Assistant to the President Alysia Leon Guerrero, Accounting Manager Carolyn Panes, ASO Mary Guerrero, Loan Administrator Clyde Beaver, QAO Lorretta Iriarte, Clerk Typist II Board Coordinator

Members of the Public;

Jeanenne Cordero, Office of Senator Tina Barnes

Also present was legal counsel Fisher & Associates by attorney Thomas J. Fisher

III. Approval of Board Minutes

Upon motion duly made, seconded and carried, the Board approved the minutes of the Guam Housing Corporation Board of Directors regular meeting of21 January 2015.

IV. Legal Report

Legal counsel reported on an appeal currently before the Supreme Court of Guam; GHC vs. Civil Service Commission vs. John Potter (Real Party in Interest). Counsel informed the Board that arguments were made earlier in the week and that an Opinion was expected from the Court in the coming months.

V. New Business

The Board discussed a request from Core Tech, Inc. for a "Clarification Affidavit" from the Corporation. Core Tech succeeded to Maeda Pacific's interest in the Lada Estates property and desired to erect single family units there for lease as well as sale. Under the terms of a settlement and a grant deed arising from the development of the Lada Estates property, Core Tech was allowed to construct homes for sale there but not for rent. Subsequent to the Corporation's conveyance of its interest in Lada Estates, the Guam Legislature also approved that conveyance but specifically allowed for rental units. Core Tech asked therefore that the Corporation clarify that its intent was also to allow structures at Lada Estates for lease as well as sale. Additionally, Core Tech asked that the Corporation confirm through the affidavit that up to the time of the execution of the affidavit Core Tech was conforming to the terms of the settlement agreement as well as the grant deed. A motion was made to allow the President to sign the affidavit once he was satisfied the Lada Estate project complied with the settlement, grant deed and law. The motion was seconded and passed without objection.

The Board discussed a change to the day and time of the Board's regular monthly meeting. A motion was made to move the Regular Meeting to the last Tuesday of each month between the hours of 1100 and 1400. The motion was seconded and passed without objection.

VI. Reports.

A. President's Report. The President updated the First Time Homebuyers Assistance Program. It was reported that the Corporation had issued 283 First Time Homeowners Assistance Program certificates totaling $2, 126,984.S8. The President reported that the Corporation had successfully completed the annual audit. The President reported that Senator Muiia-Barnes held a hearing for Bill IS-33. This bill was designed to remove a requirement that the Corporation appropriate $500,000.00 from its operating revenues for the First Time Homebuyers Assistance Program. The President reported that the Corporation wpould celebrate its 50th Anniversary on 21 August 201S.The President's Report of2S February 201S is attached hereto and incorporated in these minutes as if fully set forth herein.

B. Management Report. A written report was submitted for review.

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VII. Public Participation.

None

VIII. Miscellaneous.

None

IX. Adjournment

-A motion was then made to adjourn the meeting. This was duly seconded and carried unanimously.

WHEREFORE the Board meeting adjourned.

Approved and accepted as to form and content;

Franc Chair an

~,~ Thomas J. FIS er, Esq. Legal Counsel, GHC Minutes prepared by Fisher-& Associates

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CLARIFICATION AFFIDAVIT

This CLARIFICATION AFFIDAVIT is dated March ,2015, and is by Guam Housing Corporation, an instrumentality of the Government of Guam, whose mailing address is Post Office Box 3457, Hagatna, Guam 96932, ("GHC"), Maeda Pacific Corporation, a Guam corporation, whose mailing address is Post Office Box 8110, Tamuning, Guam 96913 ("Maeda"), and Micronesia Community Development Corporation, a Guam corporation, whose mailing address is Post Office Box 27658, GMF, Guam 96921 ("Micronesia").

RECITALS:

Whereas. GHC executed a Grant Deed to Maeda Pacific Corporation ("Maeda"), as recorded in the Department of Land Management, Government of Guam on 10 January 2012 under instrument no. 831095 (the "GHC Grant Deed"), and attached hereto as Exhibit A; and

Whereas, the GHC Grant Deed transferred to Maeda title to certain property described in the GHC Grant Deed and in paragraph "1" below (the "Property"); and

Whereas, the purpose of the transfer was to settle a law suit between Maeda and the Guam Housing Corporation and to allow for the development of affordable housing for the people of Guam on the Property (hereinafter the "Project"); and

Whereas. Maeda then executed a Grant Deed to Micronesia of the Property, which was recorded in the Department of Land Management, Government of Guam on 20 January 2012 under instrument no. 831454 (the "Maeda Grant Deed"), attached hereto as Exhibit B; and

Whereas. Micronesia then executed a Grant Deed to Summer Town Estates, LLC ("Owner"), which was recorded in the Department of Land Management, Government of Guam on 6 June 2013 under instrument no. 852669 (the "Micronesia Grant Deed" and together with the GHC Grant Deed and the Maeda Grant Deed, the "Grant Deeds"), attached hereto as Exhibit C; and

Whereas. GHC, Maeda, and Micronesia desire to clarify and modify certain terms and language in the Grant Deeds to facilitate the development of the Project and more fully reflect the intent of Grantors and Grantees in executing the Grant Deeds;

1

NOW THEREFORE, GHC, Maeda, and Micronesia by its representative as set forth below, hereby state and declare the following:

1. The Property

Lot no. 10120-14, containing an area of32,455 ± s.m. (8.020 acres), Dededo, Guam, as shown on Land Management Drawing No. 14-9IT395, Map Drawing No. PRB90-138, recorded under Instrument No. 4501 02; and

Lot no. 10120-16, Dededo, Guam; containing an area of 154,395 ± s.m. (38.152 acres), Dededo, Guam, as shown on Land Management Drawing No. 14-9IT395, Map Drawing No. PRB90-138, recorded under Instrument No. 450102.

2. Modification.

A. As to that GHC Grant Deed (See pp. 2-6 of that instrument), "Paragraph 3, Reversion on Breach-with notice by Grantor" of that instrument states,

It is further agreed by Grantee that each and all of the restrictions contained in the instrument shall, as between the parties to this instrument, their heirs, successors and assigns, be deemed to be and construed as express conditions subsequent, on each of which the conveyance is made. See id at p. 3.

As used in said Paragraph 3, the undersigned parties understand, and therefore hereby clarify and modify the clause "restrictions contained in the instrument" to be ""obligations set forth in Paragraph 1 to build houses" and, accordingly, said Paragraph 3 is hereby so clarified, amended, and modified.

B. As to the Maeda Grant Deed (See pp. 2-5 o.lthat instrument) "Paragraph 3, Reversion on Breach-with notice by Grantor" of that instrument states,

It is further agreed by Grantee that each and all of the restrictions contained in the instrument shall, as between the parties to this instrument, their heirs, successors and assigns, be deemed to be and construed as express conditions subsequent, on each of which the conveyance is made. See id at p. 3. As used in said Paragraph 3, the undersigned parties understand, and therefore hereby clarify and

modify the clause "restrictions contained in the instrument" to be "obligations set forth in Paragraph 1 to build houses" and, accordingly, said Paragraph 3 is hereby so clarified, amended and modified.

C. Each of the GHC Grant Deed and the Maeda Grant Deed requires that each respective grantee agree that all the covenants, conditions, and restrictions contained in each of the GHC Grant Deed and Maeda Grant Deed shall be inserted in full in all future deeds of the Property conveyed by the Deed. That Micronesia Grant Deed does not include all the covenants, conditions, and restrictions required by the GHC Grant Deed and the Maeda Grant Deed. All parties agree that this was an error and that the Micronesia Grant Deed was and is intended to include those covenants, conditions, and restrictions required by the GHC Grant Deed and the Maeda Grant Deed and that these requirements were and are supported by valuable consideration. Accordingly, the parties hereby clarify and agree that the Micronesia Deed is also subject to the covenants, conditions, and restrictions set forth in the GHC Grant Deed and Maeda Grant Deed, as same are modified pursuant to Section 2A and 2B hereof.

D. GHC has reviewed the proposed Project, including the completed portions thereof, and acknowledges that the Project as of the date of the making of this affidavit and as proposed satisfies all

2

the requirements of the Grant Deeds, as amended hereby, public laws referenced therein, and public law 31-195.

E. Any right of reversion of ownership under the Grant Deeds to GHC which may exist, excluding that arising from a breach of duties and obligations required by "Covenants rulll1ing with the land ... Paragraph 1. Build houses.", and as that paragraph may be clarified, amended, or affected by public law is hereby extinguished in its entirety and no longer affects the Property. Nothing herein shall be construed to effect any right at law or in equity atising from that paragraph of Instrument No. 831095 entitled "Enforcement of restrictions" and as that same paragraph appears in all Grant Deeds.

F. Notwithstanding any contrary provision of this Affidavit, Grantee and its successors, assigns and heirs shall complete the construction in accordance with Public Laws and Public Law 31-282 to avoid a reversion of ownership to GHC.

3. Reliance.

OHe, Micronesia, and Maeda intend that this Clarification Affidavit be relied upon by third parties involved in the development and financing of the project.

END OF CLARIFICATION.

Guam Housing Corporation, by and through its authorized representative as set forth below hereby state and declare that the above is true and correct, and has been authorized by the Board of Directors of Guam Housing Corporation.

Territory of Guam ) ) ss:

City of Hagatna )

GUAM HOUSING CORPORATION

By:------;'~~~~~l_ Mr. Martin BenaJ lnte President Guam Housing Corporation

On this ~'\b day of March, 2015, before me, the undersigned notary, personally appeared Mr. Martin Benavente, the person whose name is signed on the preceding or attached document, and acknowledged to me that he signed it as the authorized representative of Guam Housing Corporation, and he signed it voluntarily for

its stated purpose. ._, ___ • ~

n;,,~- ;,; -;.9): ----

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~(~:::)' ~'> .. '.' .... <~ ..... I' -f.' ..... --.------- • " .• :.'iJ FOR C\j;"·~._

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J.O:R$...'EPIJil!M. 2!l(,'lJll!J{.T£ NOTARY PUBLIC

In and for Guam, U.S.A My Commission expires: October 03, 2015

P.O. Box 3457 Hagatna, Guam 96932

Maeda Pacirfic Corporation, by and through its authorized representative as set forth below hereby state and declare that the above is true and correct, and has been approved by Th vm A...-S J AJ ,'r 1St/VI

ORATION

By: '"


City of )

On this __ day of March, 2015, before me, the undersigned notary, personally appeared '1 hem?!, ] i!lh~ 1v,;;;~1 the person whose name is signed on the preceding or attached document, and acknowledged to me that he signed it as the authorized representative of Maeda Pacific Corporation, and he signed it voluntarily for its stated purpose.

SIGNATURE PAGE FOR MICFONESIA COM THIS PAGE.

/1/1/1/11

/1//11//1

/1////1//

/11/1/111

/11111111

/1////111

/1/11/1/1

Notary Public

ALINA T. BALDO NOTARY PUBLIC

In and for Guam, U.S.A. My Commis~ion Expires: March 04, 2017

4

PORA TION FOLLOWS

Micronesia Community Development Corporation, by and through its authori~re~resenta~ve as set forth below hereby state and declare that the above is true and correct, and has been approved by . v v So v, l.h.~l..cJ:.'-V


City of )

MICRONESIA COMMUNITY DEVELOPMENT CORPORATION

On this __ day of March, 2015, before me, the undersigned notary, personally appeared O'rf? LDC; ii, Cftt'1?A C,ItD the person whose name is signed on the preceding or attached document, and acknowledged to me that he signed it as the authorized representative of Micronesia Community Development Corporation, and he signed it voluntarily for its stated purpose.

NYI-524646953vl

NJ{ary Public

A VELINA T. BALDO NOTARY PUBLIC

In and for Guam, U.S.A. My Commission Expires: March 04,2017

206 Kayen Cbe'op Machanao Dededo, Guam 96929

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1 Qc-2066 11 MARCH 2015 To: President To: Legal Counsel From: Quality Assurance Officer Subj: Board Resolution The Federal Home Loan Bank of Seattle has merged with the Federal Home Loan Bank of Des Moines. In light of this we need to initiate new agreements with Des Moines. We currently do not have any debt or collateral assigned to the Seattle Bank but in order to maintain an open relationship with the bank we do maintain an open account with Seattle with a limited amount of cash. This account will be transferred to Des Moines. The documents they have asked us to initiate appear to be similar to those we initiated with Seattle and are purposed to activate the account. As the President will be signing these documents we need to ensure he has the authority to do so, hence the “Board Resolution”. Mr. Fisher, could you review the documents so as to satisfy any concerns the board or the president may have and draw the resolution. Time appears to be of the essence as they are due in Des Moines cob 01 May 2015, with this it may be essential to have this executed at the upcoming board meeting of 25 March. Thanks Clyde E. Beaver

Guam Housing Corporation February 2015

Financial Summary FinanciQI Highlights Loans Closed Direct

Loan Total Oty Amount Disbursement

Oct-14 0 0.00 0.00 Nov-14 1 131,200.00 131,200.00 Dec-14 1 180,000.00 186,750.00 Jan-15 0 0.00 15,000.00 Feb-15 0 0.00 0.00

Year to Date - Direct 2 311,200.00 332,950.00

6% Loan Total

Oty Amount Disbursement Oct-14 0 0.00 68,580.00 Nov-14 1 150,000.00 177,000.00 Dec-14 0 0.00 49,860.00 Jan-15 1 210,000.00 0.00 Feb-15 0 0.00 45,000.00

Year to Date - 6% - - --. 360,000.00 340,440.00 2

Cahat Loan Total

Oty Amount Disbursement Oct-14 1 40,000.00-- 40,000.00 Nov-14 0 0.00 0.00 Dec-14 0 0.00 0.00 Jan-15 0 0.00 0.00 Feb-15 0 000 0.00

Year to Date - CAHAT 1 40,000.00 ~O,OOO.OO

Combine Total

Oct-14 1 40,000.00 108,580.00 Nov-14 2 281,200.00 308,200.00 Dec-14 1 180,000.00 236,610.00 Jan-15 1 210,000.00 15,000.00 Feb-15 0 0.00 45,000.00

Year to Date Total 5 711,200.00 713,390.00

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First Time Home Owners

Year to Date Total

FY 2012 FTHO Disbursements FY 2013 FTHO Disbursements FY 2013 FTHO Disbursements FY 2014 FTHO Disbursements Disbursed prior years

Total Disbursed

Total Disbursed FY 2012 & FY 2013 Total Disbursed FY 2013, FY 2014 & FY 2015

Committed as of Feb-2015 Committed as of Feb-2015 Total Committed Feb-2015

Total Committed & disbursed as of Feb-2015

Funds received from DOA June 13, 2013 Funds received from DOA December 05,2014 Less DOA funds disbursed as of Feb-2015 Less DOA funds committed as of Feb-2015 Funds available under DOA

One payoff during the month under GHC's portfolio Total principal collected Interest collected

No payoffs during the month under the Cahat portfolio Total principal collected

No payoffs during the month under the Down Payment Program Total principal collected

Total Payoffs - Principal Collected

Foreclosures- Principal Balance at time of foreclosure

Loans written off (Principal written off)

Adjusted the Investment and Cash with trustees Increased the Interest Income for Investment held by by bond trustee to equal to market value

Increased the rebate liability. Increase effected by adj. in market value. Which decrease the interest income by

Oct-14 Nov-14 Dec-14 Jan-15 Feb-15

Note: Arbitrage Yield 5.229417% . Interest eamed this month 7,733.77

2 ofa

Qty 8 8

15 10 9

50

15 50 34

102 201

251

65 186 251

2 31 33

284

,

~_4_ Month I I

I 182.43 1

1_.

2.10

182.43

0.00

1,007.94

0.00

Funds from Disbursed DOA 60,373.08 DOA 52,709.06 DOA 116,208.44 DOA 75,315.48 DOA 59,373.80

363,979.86

GHC 107,513.31 GHC 357,106.08 DOA 243,058.30 DOA 708,628.13

1,416,305.82

1,780,285.68

GHC 464,619.39 DOA 1,315,666.29

1,780,285.68

GHC 19,054.14 DOA 226,193.06

245,247.20

2,025,532.88

1,228,771.42 900,000.00

(1,315,666.29) (226,193.06) 586,912.07

----Year to Date

--,

~---- Amount J 7 63,771.32

862.51 ----

I

0 0.00

3,417.60

8 67,188.92

o 0.00

15,458.61

Note: One employee's salaries & benefits has been being accrued since 2/6/2013 to 02128/2015 Annual Leave as of PPE 02/21/2015 (755 bal.) Sick Leave as of PPE 02/21/2015 (1,908 bal.) Legal Fees paid from January 2013 - February 2015

Total as of February 2015

GHC Loan Portfolio decreased from last year Loans Receivable - Unrestricted Loans Receivable - Restricted

Principal payoffs between the two periods Foreclosures - Principal amount between the two periods Write Offs - Principal amount between the two periods Total loan disbursements between the two periods Difference (regular payments) Average monthly payments

Interest income on loans receivable decreased compared to last year

Weighted average interest rate decrease compared to last year

Notes Payables decreased by FHLB note was paid off 8/1/2014

Causing a decrease in Interest Expense compared to last year

Investments and cash with trustees decreased

Interest earned between the two fiscal years Total adjustment to Market Value between the two fiscal years Disbursements for principal payments on bond between the two fiscal years Disbursements for interest payments on bond between the two fiscal years Disbursement for trustee fees between the two fiscal years Rebate Liability paid between the two fiscal years

Interest on investments held by bond trustees increased

Interest earned Adjustment to market value Adjustment to the rebate liability Adjustment due to the Interim Arbitrage Rebate Analysis Report

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135,413.87 17,674.55 22,233.14 23,587.14

198,908.70

February 2015

27,680,286.34 0.00

27,680,286.34

633,724.58

5.70774%

0.00

0.00

3,838,633.54

40,474.23

38,650.23 1,824.00

0.00 0.00

40,474.23

February 2014 Difference

22,701,717.05 4,978,569.29 5,953,993.15 (5,953,993.15)

28,655,710.20 (975,423.86)

(834,428.19) 0.00

(369.94) 943,110.00

1,083,735.73 90,311 .31

683,499.08 (49,77 4.50)

5.81828% -0.11054%

618,845.80 618,845.80 51,570.48

22,271.12 (22,271.12)

4,159,393.42 (320,759.88)

99,003.78 (4,661.66)

(150,000.00) (251,895.00) (13,207.00)

0.00 (320,759.88)

0.00

73,966.29 (33,492.06)

46,032.33 (7,382.10) 39,425.26 (37,601.26)

(11,491.30) 11,491 .30 0.00 0.00

73,966.29 (33,492.06)

February February 2015 2014 Difference

Foreclosed assets held for resale remained the same 399,949.01 399,949.01 - 0.00

Acquired 0 houses through foreclosures or deed between the two periods 0.00 Sold 0 properties between the two periods 0.00 Adjustment to appraised value 0.00 Added cost less adjustments 0.00

0.00

Allowance for loan losses decreased (576,417.71) (629,987.92) (53,570.21 )

Adjustment to decrease Allowance to 2 % of Loan Portfolio (37,741.66) Used between the two periods - (for two loans) (15,828.55) Credits between the two periods 0.00

(53,570.21 ) (0.00)

Salaries increased due to increments & raise offset by leave taken FY 15 561,993.19 561,219.47 773.72 Number of Employees 26.00 26.00 0.00 Number of Working Days YTD 108.00 109.00 (1.00) Break down Salaries 551,976.25 522,531.49 29,444.76 Merit 0.00 8,087.75 (8,087.75) Loan Origination (3,176.30) (713.40) (2,462.90) Annual Leave Taken (45,667.55) (24,455.04 ) (21,212.51 ) Sick Leave Taken (50% of DC Members only) (11,806.45) (5,088.13) (6,718.32) Annual Leave Earned 51,900.17 48,515.51 3,384.66 Sick Leave Earned 18,767.07 12,341 .29 6,425.78

561 ,993.19 561,219.47 773.72 0.00 0.00 (0 .00)

Net income for the month of January 2015 (28,321.96) Net income for the month of February 2015 (9,025.78) Difference 19,296.18

Increase caused by: Increase in Interest on loans receivable - due to the decrease in 90 days & ove 4,556.58 Decrease in Late fee (2,237.64) Decrease in Salaries due two less working days in Feb-2015 21,034.10 Decrease in Retirement & Employee benefits expense due two less

working days in Feb-2015 3,251.42 Paid for extermination in Jan/2015 2,605.00 Paid for LP UFF Forms 02/2015 (4,638.90)

Decrease in other expense due to the power, & water expense for Feb-2015 not recorded in Feb-20 15 2,870.35 Increase in Maintenance expense due to the inventory for Dec. & Jan. not completed until Feb-2015. (Inventory rpt. for Feb. not completed yet) (8,112.81)

Total 19,328.10 (31.92)

Net income year to date (92,693.88) 11,741.36 (104,435.24)

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Net income/(Ioss) year to date

Loss due to: Vacancy year to date Vacancy rate

Salaries - FY 2015 salaries expense for John P.

Housing 5,521.09

(Accrual for John P. as of Feb-2015 - $135,413.87 plus annual leave $17,674.55, sick leave $22,333.14 & legal fees $23,587.14)

Increase in salaries due to President increase, Temporary hire & increments

Increase in Retired Employee's expense due to increase in COLA

Increase in depreciation due to renovations at Lada

Emergency Housing Expense

Increase in Maintenance Expense due to changing of doors at Lada & Inventory adjustment to actual materials in office ($18,691.86)

Payment for power & water due to renovations, vacancies & homeless

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Rental (98,214.97)

(67,768.92) 14.29%

(29,563.30)

(3,327.20)

(6,625.05)

(4,695.66)

(5,111.93)

(29,188.91 )

(4,083.98)

Total (92,6=9=3.-=88=)

Budget Prorated Budget 02/15 Actual Difference

Operating Revenue 1,143,248.90 1,127,688.41 (15,560.49) Non Operating Revenue 188,904.45 10,015.65 (178,888.80)

Total Revenue 1,332,153.35 1,137,704.06 (194,449.29)

Expenses 1,331,783.85 1,230,397.94 (101,385.91) Net Gain (Loss) 369.50 (92,693.88) (93,063.38)

Specific Budget Concerns 2015 (Over)/Under Budget Actual Budget

Interest on loans receivable 664,266.40 633,724.58 (30,541.82) 2015 Budget - loan portfolio $30,910,035 at 5.73%. Actual $27,680,286 at 5.71 % budget delinquency rate 10%. Actual delinquency rate 16.6%

Interest on investments held by bond 46,721.65 40,474.23 (6,247.42) Due to a decrease in market value

Salaries 559,490.00 561,993.19 2,503.19 Due to lump sum payment to President for retro pay. Budget is prorated

Maintenance Expense 27,208.25 41,356.42 14,148.17 A physical inventory was completed in Dec-2014. There was $18,691.86 worth of materials on the inventory report but was not at the Rental Office.

Other Income 185,145.70 4,099.90 (181,045.80) Budget income from Housing Trust Fund $249,811.70 1 12 *5 = $104,088.21

Actual - no income from source year to date. Also budget to adjust the Reserve for Loan Loss by $192,487.92. 192,487.92/12 = $16,040.66 * 5 = $80,203.30 No adjustment has been made yet

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Portfolio At-A-Glance February 2015 Principal No. of

Portfolio Balance Balance Loans SRF (Direct) 15,374,145.26 149 RF (Direct) 30,352.61 4 R5 (Revolving Loan Fund) 12,275,788.47 157 Subtotal GHC 27,680,286.34 310

Hazard Mitigation 9,862.73 1 Cahat 1,780,439.36 74 Down Pymt (Not included when calculating delinquency %) 249,724.48 31

2,040,026.57 106

Total 29,720,312.91 416

Principal Number Current delinquency (GHC portfolio only) Balance % of loans 30 to 59 days delinquent 1,253,900.38 5.1464% 12 60 to 89 days delinquent 153,567.36 0.6303% 2 90 days to 119 days 28,149.43 0.1155% 1 120 days & over 28,302.46 0.1162% 1 ----- ----Total Delinquent 1,463,919.63 6.0084% 16

Referred to Legal 3,315,831 .93 11.9790% 38 Total Delinquent & referred to legal 4,779,751.56 17.2677% 54

Current delinquency (HM & Cahat) % 30 to 59 days delinquent 59,704.81 3.4093% 3 60 to 89 days delinquent 0.00 0.0000% 0 90 days to 119 days 0.00 0.0000% 0 120 days & over 35,333.38 2.0176% 1 Total Delinquent 95,038.19 5.4269% 4

Referred to Legal 39,050.95 2.1812% 3 Total Delinquent & referred to legal 134,089.14 . 7.4897% 7

Total Delinquency (Does not include Down Payment Loans) % 30 to 59 days delinquent 1,313,605.19 5.0299% 15 60 to 89 days delinquent 153,567.36 0.5880% 2 90 days to 119 days 28,149.43 0.1078% 1 120 days & over 63,635.84 0.2437% 2 Total Delinquent 1,558,957.82 5.9694% 20

Referred to Legal 3,354,882.88 11.3838% 41 Total Delinquent & referred to legal 4,913,840.70 16.6737% 61

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Tenant Accounts Recievables Lada As-Atdas Sagan Total

I

Allowance for Uncollectibles Lada As-Atdas Sagan Total

I Net Tenant Receivable less Allowance for Uncollectibles % of Receivable

Lada As-Atdas Sagan

. Subtotal

1 Oreo properties Total

Lada As-Atdas Sagan Subtotal

Oreo properties Total

Vacancy Rate

FY 2015 116,340.79 40,036.87 15,696.34

172,074.00

(63,968.63) (24,068.00)

(9,104.99) (97,141 .62t

74,932.38 56.45% ------

Fiscal Year 2014

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Rental Income 373,875.00

72,000.00 28,500.00

474,375.00

4,800.00 479,175.00

Rental Income 353,125.00

69,600.00 28,500.00

451,225.00

4,600.00 455,825.00

2015 14.29%

FY 2014 96,716.74 28,705.13

4,327.10 129,748.97

(35,604.00) (6,912.00)

(600.00) _ J4:3,116.00)

86,632.97 33.23%

Vacancy

(41,730.92) (19,511.34)

(6,526.66) (67,768.92)

.- -----(67,768.92)

Vacancy

(32,432.48) (10,184.75)

(9,943.26) (52,560.49)

(52,560.49)

2014 11.65%

Difference 19,624.05 11,331.74 11 ,369.24 42,325.03

(28,364.63) (17,156.00)

(8,504.99)1 (54,025.62)

(11 ,700.59)1

Net

332,144.08-1 52,488.66 21,973.34

406,606.08

4,800.00 ! 411,406 . 0~

Net

320,692.52 59,415.25 18,556.74

398,664.51

4,600.00 403,264.51

Difference 2.63754%

Assets Unrestricted Assets

Cash and cash equivalents

Self-insurance fund

Loans receivable

Net deferred origination expo & rev.

Allowance for loan losses

Tenant receivable, net

Other receivables

Accrued interest receivable

Prepaid expenses and other

Foreclosed assets held for resale

Total Unrestricted Assets

Restricted Assets Cash and cash equivalents

Investments with trustee

Foreclosure Fund

Loans receivable

Guam Housing Corporation Statement of Net Position

As of 2/28/2015

Current Year

2,974,535.81

1,019,828.72

27,680,286.34

0.00

(576,417.71)

81,357.38

(21,930.54)

65,830.26

87,326.26

399,949.01

31,710,765.53

3,004,298.80

3,838,633.54

501,065.22

0.00

Other loans receivables (CAHAT, Sagan, DPCCA & HM)

Total Restricted Assets

2,040,026.57

9,384,024.13

Capital assets, net

Total Assets

Liabilities

Payable from unrestricted assets

Accounts payable and accrued expenses

Accrued compensated absences

Unearned revenue

Total Payable from unrestricted assets

Payable from restricted assets

Accounts payable

Bonds payable

Notes payable

Accrued interest payable

Security deposits

Deposits by borrowers

Loans held in trust

Rebate liability

Net pOSition

Total Payable from restricted assets

Total Liabilities

Invested in capital assets, net of related debt

Restricted

Unrestricted

Total Net position

Total liabilities and net position

.. __ --..2,657,206.41

47,751,996.07

216,963.83

365,383.86

49,299.83 631,647.52

813,105.13

4,415,000.00

0.00

121,935.00

62,124.93

5341923.01

250,398.86

74,070.12

6,271,557.05 6,903,204.57

6,706,125.86

3,284,430.92

30,858,234.72

40,848.791.50

47,751,996.07

Prior Year

3,127,673.07

932,259.96

22,701,717.05

2,995.38

(629,987.92)

87,620.52

2,682.85

74,356.51

108,527.35

399,949.01 26,807,793.78

2,250,138.27

4,159,393.42

500,242.88

5,953,993.15

2,167,557.36

15,031,325.08

_~1559.95

~528,678.81

205,559.57

333,537.26

531525.75

592,622.58

692,973.76

4,565,000.00

618,845.80

129,082.49

64,621.93

406,737.64

273,506.73

78,928.24

6,829,696.59

7,422,319.17

6,696,232.76

7,521,754.04

26,888,372.84

41,106,359.64

48,528,678.81

Assets

Unrestricted Assets


Self-insurance fund

Loans receivable

Net deferred origination expo & rev.

Allowance for loan losses

Tenant receivable, net

Other receivables

Accrued interest receivable

Prepaid expenses and other

Foreclosed assets held for resale

Total Unrestricted Assets

Restricted Assets


Investments with trustee

Foreclosure Fund

Loans receivable

Other loans receivables (CAHAT, Sagan, DPCCA & HM)

Total Restricted Assets

Capital assets, net

Total Assets

Liabilities

Payable from unrestricted assets

Accounts payable and accrued expenses

Accrued compensated absences

Unearned revenue

Total Payable from unrestricted assets

Payable from restricted assets

Accounts payable

Bonds payable

Notes payable

Accrued interest payable

Security deposits

Deposits by borrowers

Loans held in trust

Rebate liability

Total Payable from restricted assets

Total Liabilities

Net position

Invested in capital assets, net of related debt

Restricted

Unrestricted

Total Net position

Total liabilities and net position

Housing Division

1,963,768.94

0.00

27,680,286.34

0.00

Guam Housing Corporation Statement of Net Position

As of 2/28/2015

Rental Division

1,010,766.87

1,019,828.72

0.00

0.00

(576,417.71) 0.00

(743,737.38) 825,094.76

(21,930.54) 0.00

63,986.47 1,843.79

39,829.79 47,496.47

399,949.01 0.00

28,805,734.92 2,905,030.61

2,883,089.67 121,209.13

3,838,633.54 0.00

501,065.22 0.00

0.00 0.00

2,040,026.57 0.00

9,262,815.00 121,209.13

Total

2,974,535.81

1,019,828.72

27,680,286.34

0.00

(576,417.71)

81,357.38

(21,930.54)

65,830.26

87,326.26

399,949.01

31,710,765.53

3,004,298.80

3,838,633.54

501,065.22

0.00

2,040,026.57

9,384,024.13

0.00 6,657,206.41 ___ 6,657,206.41

38,068,549.92 9,683,446.15 47,751,996.07

56,364.81 160,599.02 216,963.83

194,222.68 171,161.18 365,383.86

45,625.91 3673.92 49,299.83

296,213.40 335,434.12 631,647.52

813,105.13 0.00 813,105.13

4,415,000.00 0.00 4,415,000.00

0.00 0.00 0.00

121,935.00 0.00 121,935.00

900.00 61,224.93 62,124.93

534,923.01 0.00 534,923.01

250,398.86 0.00 250,398.86

74,070.12 0.00 74,070.12

6,210,332.12 61,224.93 6,271,557.05

6,506,545.52 396,659.05 6,903,204.57

0.00 6,706,125.86 6,706,125.86

3,241,395.58 43,035.34 3,284,430.92

28,320,608.82 2,537,625.90 30,858,234.72

31,562,004.40 9,286,787.10 40,848,791.50

38,068,549.92 9,683,446.15 47,751,996.07

Guam Housing Corporation

Statement of Revenues, Expenses and Changes in Net Position

From 2/1/2015 Through 212812015

Operating Revenues:

Interest on loans receivable

Rental Income

Interest on investments held by bond trustees

Loan origination fees

Late fees, service fees & return check fees

Total Operating Revenues:

Operating Expenses:

Interest expense MRB

Interest expense notes payable

Salaries

Bad debts and provision for loan losses

Retirement contributions

Retiree supplemental, cola & health benefits

First Time Homeowner's Assistance Program

Depreciation

Contractual services

Professional services

Rent

Other

Loan origination costs

Travel

Employee benefits, other than retirement

Maintenance

Bond trustee fees

Directors' fees

Loss on disposal of assets

Total Operating Expenses:

Non-operating Revenue (Expenses)

Interest income on bank deposits

Gain/(loss) on assets

Other income

Total Non-operating Revenue (Expenses)

Change in net position Total net position at beginning of month

Net position at end of year

n",. 1 lQ 1< nl n'"7"1 DIIA

Current Period Actual

120,354.45

83,075 .00

7,944.35

6,300.00

3,174.84

220,848.64

20,322.50

0.00

99,142.07

0.00

32,391.62

18,746.77

0.00

14,681.57

10,831.02

6,658.86

8,754.50

3,234.89

0.00

0.00

6,697.74

8,415.99

1,396.85

200.00

0.00

231,474.38

1,174.96

0.00

425.00

1,599.96

(9,025.78)

40,857,817.28

40,848,791.50

Prior Year Current Period Actual

123,276.90

81,661.02

15,919.67

0.00

3,577.78

224,435.37

20,991.25

3,134.99

105,571.88

96.00

30,565.02

21,983.35

0.00

13,864.42

6,824.07

4,957.41

8,754.50

7,940.85

0.00

0.00

5,370.96

3,782.64

1,083.50

200.00

0.00

235,120.84

1,259.24

0.00

125.00

1,384.24

(9,301.23)

41,115,660.87

41 ,106,359.64



From 2/1/2015 Through 2128/2015

Operating Revenues:


Rental Income



Late fees , service fees & return check fees


Operating Expenses:



Salaries




Depreciation



Rent

Other



Maintenance

Bond trustee fees

Directors' fees




Other income


Change in net position Total net position at beginning of month

Net position at end of year

Housing Division

120,354.45

950.00

7,944.35

6,300.00

2,464.84

138,013.64

20,322.50

0.00

59,100.34

0.00

19,142.92

12 ,321.73

0.00

7,080.19

5,851.20

8,754.50

1,570.67

0.00

4,064.83

0.00

1,396.85

200.00

139,805.73

781.27

0.00

781.27

(1,010.82)

31,563,015.22

31 ,562,004.40

Rental Division

0.00

82,125 .00

0.00

0.00

710 .00

82,835.00

0.00

0.00

40,041.73

0.00

13 ,248 .70

6,425 .04

14,681.57

3,750.83

807.66

0.00

1,664.22

0.00

2,632 .91

8,415 .99

0.00

0.00

91.668.65

393.69

425 .00

818.69

(8,014.96)

9,294,802.06

9,286,787.10

Total

120,354.45

83,075.00

7,944.35

6,300.00

3,174.84

220,848 .64

20,322 .50

0.00

99,142 .07

0.00

32,391 .62

18 ,746.77

14,681 .57

10,831.02

6,658 .86

8,754.50

3,234.89

0.00

6,697.74

8,415 .99

1,396.85

200.00

231 ,474.38

1,174.96

425.00

1,599.96

(9,025.78)

40,857,817.28

40,848,791 .50



From 10/1/2014 Through 2128/2015

Current Year Actual Prior Year Actual

Operating Revenues:


Rental Income





Operating Expenses:



Salaries




First Time Homeowner's Assistance Program

Depreciation



Rent

Other


Travel


Maintenance

Bond trustee fees

Directors' fees




Gainl(1oss) on sale of assets

Other income

Loss on disposal of assets


Change in net position Total net position at beginning of year

Total net position of end of year

633,724.58

411,406.08

40,474.23

22,624.00

19,459.52

1,127,688.41

101,612.50

0.00

561,993.19

0.00

172,937.49

93,733 .82

0.00

73,491.96

41,384.42

35,093.42

43,772 .50

19,135.89

3,855.93

0.00

35,066.23

41,356.42

6,164.17

800.00

1,230,397.94

5,915.75

0.00

4,099.90

0.00

10,015.65

(92,693.88)

40,941,485.38

40,848,791.50

683,499.08

403,264.51

73,966.29

7,064.61

19,993 .59

1,187,788.08 ----

104.956.25

22.271.12

561,219.47

3,192.00

167,448.69

72,116.95

0.00

68.796.50

40,410.16

24,405.83

43,772.50

22,298.99

4,389.28

0.00

29,043 .62

12,167 .51

5,417.50

800.00

1,182,706.37

5,664.66

0.00

994.99

0.00

6,659.65

11,741.36

41,094,618.28

41 ,106,359.64



From 10/1/2014 Through 2/2812015

Operating Revenues:


Rental Income





Operating Expenses:



Salaries




Depreciation



Rent

Other



Maintenance

Bond trustee fees

Directors' fees




Other income


Change in net position Total net position at beginning of year

Total net position of end of year

Dale 31915030046PM

Housing Division

633,724.58

4,800.00

40,474.23

22,624.00

16,479.52

718,102.33

101,612.50

0.00

323,420.81

0.00

99,244.88

61,608.62

0.00

19,278.71

30,217.09

43.772.50

5,561.03

3,855.93

21,108.53

0.00

6,164.17

800.00

716,644.77

3,773.53

290.00

4,063.53

5,521.09

31,556,483.31

31 ,562,004.40

Rental Division

0.00

406,606.08

0.00

0.00

2,980.00

409,586.08

0.00

0.00

238,572.38

0.00

73,692.6\

32,125.20

73,491.96

22,105.71

4,876.33

0.00

13,574.86

0.00

13,957.70

41,356.42

0.00

0.00

513,753.17

2,142.22

3,809.90

5,952.12

(98,214.97)

9,385,002.07

9,286,787.10

Total

633,724.58

411,406.08

40,474.23

22,624.00

19,459.52

1,127,688.41

101,612.50

0.00

561,993.19

0.00

172,937.49

93,733.82

73,491.96

41,384.42

35,093.42

43,772.50

19,135.89

3,855.93

35,066.23

41,356.42

6,164.17

800.00

1,230,397.94

5,915.75

4,099.90

10,015.65

(92,693.88)

40,941,485.38

40,848 ,791.50


Budget vs Actual

From 10 '1,2014 Through 2·28/2015

Total Budget S - YTD Budget S - Current Year Over (Under) Remaining Original Original Actual Budget Variance Balance

Operating Revenues:

Interest on loans receivable 1,594,239.30 664,266.40 633,724.58 (30,541.82) (4.5900%) 960,514.72

Rental Income 951,456.00 396,440.00 411,406.08 14,966.08 3.7700% 540,049.92

Interest on invcstments held hy hand 112,132.00 46,12 1.65 40,474.23 (6,247.42) (13.3700%) 71,657.77 tl1lstees

Loan origination fecs 41,330.00 17.220.85 22,624.00 5,403.15 31.3700% 18,706.00

Late fees, selvice tees & retulll check fees 44,640 .00 18 ,600.00 19,459.52 859.52 4.6200% 25,180.48

Total Operating Revenues: 2,743,797.30 1,143,248 .90 1,127,688.41 ( 15,560.49) (1.3611%) 1.616,108.89

Operating Expenses:

Interest expense MRB 241,62241 100,676.00 101,612.50 (936.50) 0.9300% 140,009.91

Interest expense notes payable 000 0.00 0.00 0.00 0.0000% 0.00

Salaries 1.342,775 .80 559,490.00 561,993.19 (2.503 19) 0.4400% 780.782.61

Bad debts and provision for loan losses 98.700.00 41,125.00 0.00 41,125.00 ( I 00.0000%) 98.700.00

Retirement contrihutions 429,577.86 178.990.80 112,937.49 6.053.31 (3.3800°0) 256,640.37

Retiree supplemental, cola & health 225,321.68 93.884.05 93,733.82 150.23 (0.1600%) 131,587.86 benefits

Deprc'Ciation 191,144.73 79.64365 73,49196 6,1 51.69 (712OO%) 117 ,652.77

Contractual servict!s 127,371.67 53.071.60 41,384.42 11.687.18 (22.0200%) 85,<)87.25

Professional services 105.260.00 43.858.30 35.093.42 8,764.88 (19.9800%) 70,16658

Rent 150.870.00 62.862.50 43,772.50 19.090.00 (30.3600%) 107.097.50

Other S7,444.70 36,435.40 19.13589 17.299.51 (47.4700%) 68,308.81

loan origination costs 24,000.00 10,000.00 3.855.93 6.144.07 (61.4400%) 20. 144'<17

Travd 0.00 0.00 0.00 0.00 0.0000% 0.00

Employee bcncfits, other than retin:ment 86.292.00 35,954.95 35.066.23 888.72 (2.4700%) 51,225.77

Maintenance 65.300.00 27.208.25 41.356.42 (14.148.17) 51.9900% 23.943 58

Bond trustee fces 16,400.00 6.833.35 6.164.17 669.18 (9.7900%) 10.23583

Directors' fees 4.200.00 1.750.00 800.00 950.00 124.2800%) 3,400.00

Total Operating Expcn~es: 3.12,6.280.85 1.331.783.85 1.230.397 94 101.385.91 (7.6128%) 1.965.88291

Non-opcrating Revt!nue (Expenses)

Interest income on bank deposits 9.021 .00 3.758 .75 5.915.75 2,157.00 57.3800% 3,105.25

Other income _~.349~ 185.145 .70 ___ -...:! .099.90 [email protected]) (97.7800% ) 440.249.12

Total Non-opt!rating Revenue (Expenses) 453.370.62 188.904.45 10.015.65 ( 178.888.80 ) (94.6980%) 443.354.97

Change in net position 887.D7 369.50 (92,693.88) (93,063.38) (25186.3007%) 93,580.95

Cash Flows ITom Operating Activities

Net Gain (Loss)

Depreciation less disposal of assets

(Increase) decrease in accrued interest and others

(Increase) decrease in prepaid expenses and others

Increase (decrease) in accrued pension costs

Increase (decrease) in other liabilities

Increase (decrease) in deposits by bon'owers

Increase (decrease) in loans held in trust

Total Cash Flows from Operating Activities

Cash Flows from Investing Activities

Net (increase) decrease in loans receivables

Net (increase) decrease in other receivables

(Cost) sale of foreclosed houses

(Purchase) disposal of property and equipment

(Purchase) sale of investment securities

Total Cash Flows from Investing Activities

Cash Flows from Financing Activities

Repayment of notes payable

Repayment of bonds payable

Accrued interest on bonds payable

Accrued rebate liability

Premium on bonds payable

Total Cash Flows from Financing Activities

Net increase (decrease) in cash Cash at beginning of year

Cash at end of year

Date 3 1915030159 PM


Statement of Cash Flows

As of 2/28/20 15

Housing Division Rental Division

5,521.09 (98,214.97)

0.00 73,491.96

(8,230.09) (1,138.27)

(36,872.50) 6,907.37

0.00 0.00

521,917.49 27,301.35

(188,349.94) 1,916.56

(9,086.37) 0.00

284,899.68 10,264.00

(138,665.91) 0.00

27,766.59 (45,694.12)

0.00 0.00

0.00 (24,572.51 )

(41,678.95) .0.00

(152,578.27) (70,266.63 )

0.00 0.00

0.00 0.00

101,612.5() 0.00

0.00 0.00

000 0.00

101,61250 0.00

233,933.91 (60,002.63 )

5,\ 13,989.92 2,211,807.35

5,347,923.83 2, 151 ,804.72

Total

(92,693.88)

73,491.96

(9,368.36)

(29,965.13)

0.00

549,218.84

( 186,433.38)

(9,086.37)

295,163.68

(138,665.91)

(17,927.53)

0.00

(24,572.51)

(41,678.95)

(222,844.90)

0.00

0.00

101,612.50

0.00

0.00

101,612 50

173,93l.28

7,325,797.27

7,499,728.55

P"IIe I

CASH ON HAND = CHANGE FUND

GUAM HOUSING CORPORATION DAILY CASH POSITION

FOR THE PERIOD ENDED Februa 27,2015

$0.00 PETIY CASH FUND 145.10 Tolal cash on Hand

CASH IN BANK - TCD AND TRUST ACCOUNT: DATE DATE NO.

TCDfTRUST ACCT. BANK PURCHASED MATURED DAYS RATE

CMA - Operations - Cash MC 5MC-152334 31-Jan-15 28-Feb-15 28 0.00000% CMA - Oper Deutsche Bk FDIC Ins De MC 5MC-152334 31-Jan-15 28-Feb-15 28 0.00000'1.

TCDs - Operations

0

CMA ACCT - TfF MC 5MC-189914 31-Jan-15 28-Feb-15 28 0.00000% CMA - TF Deutsche Bk FDIC Ins Oep MC 5MC-189914 31-Jan-15 28-Feb-15 28 0.00000%

Bankunited Nail Assn MC 5MC-189906 19-Dec-14 19-Jun-15 182 0.30000% Bank of Baroda MC 5MC-189906 09-Dec-14 09-Sep-15 274 0.40000%

CMA - Cahat - Cash MC 5MC-152763 31-Jan-15 28-Feb-15 28 0.00000%

0

CMA - Revolving Loan Fund - Cash MC 5MC-146229 31-Jan-15 28-Feb-15 28 0.00000% CMA - RLF Deutsche Bk FDIC Ins. Dep MC 5MC-146229 31-Jan-15 28-Feb-15 28 0.00000%

TCDs - Revolving Loan Fund

0

CMA - Foreclosure Fund - Cash MC 5MC-189906 31-Jan-15 28-Feb-15 28 0.00000% CMA - FPF Deutsche Bk FDIC Ins. Dep MC 5MC-189906 31-Jan-15 28-Feb-15 28 0.00000%

Firstbank P R Santurce MC 5MC-189906 06-Feb-15 05-Jun-15 119 0.40000% Goldmans Sachs Bk USA New York MC 5MC-189906 27-Aug-14 27-Aug-15 365 0.40000% Goldman Sachs BK USA New York MC 5MC-189906 10-0ec-14 10-Dec-15 365 0.40000%

2

3 ----

$145.10

ACCRUED INTEREST

AMOUNT EARNED

0.00 0.00 45.69 000

45.69 0.00

0.00 0.00 208.85 0.00

135.000.00 201 .95 136,000.00 408.37 271,208.85 201.95

0.00 0.00

----_. 0.00 0.00

0.00 0.00 21.02 0.00

21.02 0.00

0.00 0.00 65.22 0.00

96,000.00 125.19 250,000.00 1.000.00 155,00000 620.00 501 ,065.22 1.125.19

$~2,340~_ $1.327 14

Cahat (PL21-136) Checking Account: AlC 0601-022867 FTH-RF (Pl24-180) Checking Account: AlC 0031-033250 FTH-RF (PL31.166) Savings Account: CF AlC 144340·01 HMRLF (Grant JV2011-174 5/2011) Checking Account: BOG AlC 0602-010855 FHLB of SEATTLE FUND Ale 990020019

BOG Operations Fund/Checking Account: Beginning Balance, 01/31/2015 Deposijs Deposijs (IN·TRANSIT) Disbursements

Approved Disbursements - Loans Approved Disbursements· All Others

BOG = AlC 601-018773

••. -.-•• ------- LOANS INTERFUND ALL OTHERS

[

Bank of Guam Revolving Loan FundTChecking Account: ----. Beginning Balance, 01/31/2015 BOG = AlC 0601-022902 Deposits Disbursements -.------------- LOANS

OTHERS Bank of Guam Trust Fund/Checking Account:

Beginning Balance, 01/3112015 BOG = AlC 0601·022895 Deposits Disbursements

FTH·RF (PL31·166) Checking accOunt Beginning Balance, 01/31/2015 CFCU = AlC 144340-02 Deposits Disbursements

Bank of Guam Borrower's Deposit/Checking Account: Beginning Balance, 01/3112015 BOG = AlC 0601-022882 Deposits Disbursements

Less Borrower's Deposits held in Trust· Trust Fund (Insurance & R.E.Taxes) Loan Service (Borrower's Deposits)

Less: Loan Commitments Balance:

TOTAL CASH IN BANK

TOTAL CASH AVAILABLE

TOTAL BORROWER'S DEPOSITS

Prior Approval (5) New Approval 0

Prior Approval (9) New Approval 0

Prior Approval 0 New Approval 0 New Approval (33)

RESERVE FOR NEW APPROVAL - DOWN PAYMENT TOTAL COMMITMENT BALANCE

0.00 (89,570.75)

(173,006.60)

673,000 = SRF o = SRF

927,424 = R/5 o = R/5

0.00 = CAHAT o = CAHAT o = FTHRF

= DPCCA

$1,860,563.50 324,139.42

0.00

(262.577.35) 0.00 0.00

$1,191,534.51 42,329.95

(45,000.00) 000

$140,823.55 34,82787

(23,76837)

$903,635.72 4,325.68

78,996.52)

$79,474.09 53.51

(400.00)

210,713.60 o

100.12 152,206.09

219,560.64

41 ,433.96 NC),~ES PAY. FUND

NET SRF MONEY $1,922,125.57 $1,051,363.05

Net R LOAN FUND $1,188,864.46 $296,766.61

add amount in rlf tcd $296,788

$151,883.05

$828,964.88

$79,127.60

(454,803.50) $80,119.51

(673,000.00) 0.00

(927,423.90) 0.00 0.00 0.00

(245,247.20) 0.00

$582,617.68

$4,575,419

$5,347,905.21

($534923.01)

Reserve: For CAHA T Loans Foreclosure Protection Fund Hazard Mitigation Loans First Time Homeowners

(NET OF INVESTMENT LOSS = $248,157.691 replinshed per MEMO 9/25/2009) (NET OF INVESTMENT LOSS = $124,078.841 replinshed per MEMO 9/25/2009)

($1 ,845,671.1 0) (219,560.64) (500,000.00) (152,206.09) (829,065.00)

BOND ISSUE I LADA PROJECT AVAILABLE: FOR FIRST TIME HOMEOWNER RELIEF FUND Reserve: GRC Bonding Self-Insured (Transferred to oper. fund as of 7/3/97) Reserve: SINKING FUND FOR = FHLB NOTES

CASH AVAILABLE FOR OPERATIONS Less: GRC COLLECTIONS FOR INTERFUND February 28,2015 Less: SAGAN LlNAHYAN (Loans transferred back to GHURA August 2004) Less: DPCCA Collections as of February 28, 2015 Less: Unapplied Balance as of February 28, 2015 Less: TYPHOON CLAIMS FOR REFUND 02/28/2015

Less: Loan Repayments for the month - FHLB Memorandum of Understanding wi Geda Retirement Inv. for early buyout for 2 fomner employees GSA/DOA Balance Monthly Recurring Expenses

NOTE: Deposijs to S.R.F .• Due to Interfund Accounts: Borrowers' Deposij Trust Fund Revolving Loan Fund 02/2015 amount to transfer Cahat 0212015 to transfer First Time Homeowners Assistants Program 01/2015 Hazard Mitigation 02/2015 to transfer

TOTAl

NET

(100.00) 0.00

(674.38) (41,770.96)

(3,854.95)

991.91 31,711.60 35,326.05

8,847.04 19,420.74

323.72

96,621.06

(21,500.00) 186.10

0.00

$1,245,165.47

(46 ,400 .29)

$1,198,765,18 0.00 0.00 0.00

(18,241.17) (15,000.00)

$1,165,524,01 .

GHC - LADA GARDENS CASH POSITION

AS OF FEBRUARY 28,2015

ACCOUNT NO. TCD-BANK TCD #040216 - 1873 TSD BOG

TCD #040216 - 3880 EHF BOG

CMA-SIF Money Concepts #5MC-152326 CMA-SIF Deulsche Bank FDIC Insur. Dep. Self Insurance Fund - TCDs' Beal Bank USA Las Vegas Nev. CD Discover Bank Greenwood Del. CD Apple Bank for Svgs. N Y CD Firstbank P R Santurce CD· Oriental Bk & TR San Juan P R CD· Goldman Sachs Bk USA New York CD Bank of China New York City NY CD Bank Baroda New York City N Y CD

CMA-RFR Money Concepts #5MC-152458 CMA-RFR Deutsche Bank FDIC Insur. Dep Reserve for Replacement - TCDs' Firstbank P R Santurce CD·

CMA-OPER Money Concepts #5MC-170542 CMA-OPER Deutsche Bank FDIC Insur Dep Lada Operations - TCDs'

·Pays Monthly

Operation: Checking Acct #7008033778 Bank Pacific

01/31/2015 Deposits Disbursements

Sub-Total

Less: Restricted Accounts: Reserve for Replacement Reserve for Emergency Housing Self Insurance Fund Reserve for Contracts

Sub-Total Balance Operations

Tenant Security Deposit: Checking Acct #7008033760 Bank Pacific


Sub-Total

DATE BANK PURCHASED BOG 01/2212015

BOG 02101/2015

MCCP 01/31/2015 MCCP 01/3112015

MCCP 05/21/2014 MCCP 05/21/2014 MCCP 05/28/2014 MCCP 02/06/2015 MCCP 02/23/2015 MCCP 09/10/2014 MCCP 09/10/2014 MCCP 01/13/2015

MCCP 01/31/2015 MCCP 01/31/2015

MCCP 02/17/2015

MCCP 01/31/2015 MCCP 01/31/2015

Balance Tenant Security Deposit Checking Accounts

Total Cash Available

Less: Tenant Security Deposit

Cash Available for Operations and Reserve

GRC Restricted Accounts Reserve for Replacement Operations Self Insurance Fund Emergency Housing Fund

TOTAL CASH AVAILABLE FOR OPERATIONS

MATURITY DATE TERM

04/22/2015 90

05/02/2015 90

02/28/2015 28 02/28/2015 28

05/20/2015 364 05/21/2015 365 05/28/2015 365 06/05/2015 119 08/21/2015 179 09/10/2015 365 09/10/2015 365 01/13/2016 365

02/28/2015 28 02/28/2015 28

05/15/2015 87

02/28/2015 28 02/28/2015 28

RATE 0.1200%

0.1200%

0.0000% 0.0000%

0.2500% 0.2500% 0.2500% 0.4000% 0.5000% 0.4000% 0.5500% 0.3500%

0.0000% 0.0000%

0.3000%

0.0000% 0.0000%

$727,761.41 67,220.29

(91 ,768.81 ) 703,212.89

(456,409.44 ) (14,570.78)

AMOUNT $38,136.78

86,172.66

21,548.25 280.47

249,000.00 166,000.00 249,000.00

21,000.00 21,000.00

249,000.00 21,000.00 22,000.00

1,019,828.72

0.00 93394

215,00000

215 ,93394

0.00 000

0.00

$1,360,072.10

0.00 -Premo Trf. to TC[ 0.00

(470,980.22)

$27,969.17 553.28

0.00 28,522.45

215,933.94 0.00

1,019,828.72 86,172.66

$232,232.67

28,522.45

1,620,827.22

(51,524.93)

$1,569,302.29

(1,321,935.32)

$247,366.97

Operation: Checking Acct #7008033786 Bank Pacific


Balance Operations

Tenant Security Deposit Checking Acct #7008033964 Bank Pacific


GHC - GUMAAS-ATDAS CASH POSITION

AS OF FEBRUARY 28, 2015

Balance Tenant Security Deposit Account




As-Atdas Restricted Accounts Reserve for Replacement Trust Fund (Insurance) Self Insurance Fund


$6,883.89 9,976.37

(11,412.88)

$5,447.38

$7,634.20 0.88 0.00

7,635.08

13,082.46

(6,450.00)

6,632.46

0.00 0.00 0.00

0.00

$6,632.46

Operation:

GHC - SAGAN LlNAHYAN CASH POSITION

AS OF FEBRUARY 28, 2015

Checking Acct #144340-4 Comm. 1st Fed. Credit Union 01/31/2015

Deposits Disbursements

Balance Operations

Tenant Security Deposit Checking Acct #144340-6 Comm. 1st Fed. Credit Union


Balance Tenant Security Deposit Account




As-Atdas Restricted Accounts Reserve for Replacement Trust Fund (Insurance) Self Insurance Fund


$36,535.00 7,108.91

_____ . (45.70)

$3,315.97 0.64 0.00

0.00 0.00 0.00

$43,598.21

3,316.61

46,914.82

43,664.82

0.00

$43,664.82

Guam Housing Corporation Other Real Estate Ownod Summary Report

as of February 28. 2015

Loan Date Property Borrower Ca.BorTQlN8r Number Foreck>sed Location

1 -Anthony C. SamlUano Bamadtta A. Samlliano 18301341 July 26. 1999 Lo1219. Municipality of Agat 2 Anthony E. Eclavea Bobble C. Eelav.. 59302238 July 27, 1999 Lot 8114-2 Sinajan. 3 Juan A. Quidachay 49702395 & 79702395 February 02, 2009 Lot No.09, Block No.25, New Agat 4 Jamos E. Nelson III 59802430 December 28.2010 lol No. 26·6-2·1. Municipality of Talofofo Torntory of Gl 5 Rosemarie B. Perez Vlncant C. Vlllasola 11002838 April 27. 2012 lot 172-1-1 Agol. Guam. Estate Numbor 13908. Subult 5 Total

GHC GHC Borrower Co·8orrower

Cash Receipt ~er

OREO Ol.po •• " FY'2014

Date Sold

Proportv _ _ __ Locallon

Estimatod Gain! (loss)

Bad OverJ 10% (if sold 01 DobU Net (Undor) Estimated curront

aREa Loan Loss AIR ~ .. 1ort aREa OREO Appraised Book Sel1lng appraised Assel Roservo Doficienclos Assels Expenses Value As of Appraiser Value Cost value) 58,048.57 0.00 58,048.57 5.04918 90,600.00 0312712013 Chl.f Appraisals 27,502.25 9,060.00 18,442.25 95,52641 95,526.41 0.00 000 41,000 00 04/1812012 Rabon & Rabon Apprai •• """ 41,000.00 4,100.00 36,900.00 62,42473 7.42473 55,000.00 1741 .25 132,000.00 0610612014 Robort & Robert Appmisers. It 75,258.75 13,200.00 62.058.75

145.79778 13.32850 346928 129,000 00 4493.44 164,800.00 05130/2014 Ch,.f Appraisals 31,306.56 16,480.00 14,826.56 143,96499 (84093) 000 144 805.92 1810.65 161.500 00 OS/29/2014 Chlof Appraisals 14,883.43 16.150.00 (1.266.57) 505.16248 11543871 3469.28 386 854~3,094 52 589,900 00 175,067.56 42,84000 132,22756

Salos Pnce

Selling Cost

Ne' Procoeds

399 94901

OREO Assol

(Loss}/G;Jin on Salo

Qc-2065 24 March 2015 To: President From: Quality Assurance Officer Subj: Summary review, with respect to Compliance, of Guam Housing Corporation’s statement of finances including its: a) Financial Posture b) Collateral Position c) Accounting of funds d) Debt Service e) Operations f) Financial report g) Reports due h) Portfolio i) Summary Reference reports include: a) the latest unaudited financial report, month ending 28 February 2015 b) cash position as of 28 February 2015 c) projected principal and interest summary as of 28Fedruary 2015 d) budget for fiscal year 2015 e) revenue and expense report fiscal year 2015 to date Issues of Interest: The Federal Home Loan Bank of Seattle is merging with the Federal Home Loan Bank of Des Moines. The Draft Rules for the Housing Trust Act and Lending Capital Program and funding source initiative has been fine-tuned, we have initiated a resolution readdressing GHC Board of Director’s support for these initiatives, will bring the Governor, who stresses support, up to date and are in pursuit of legislative action.

The Draft Rules for the Mortgage Credit Certificate Program are stalled. Collateral position Of the corporation’s $ 29,720,313 portfolio; Legal; $ 3,490,772 of these have been targeted for foreclosure or other legal action. There is $ 2,040,027 in program loans. Accounting of funds (this review was conducted prior to the completion of the month end financial report and may vary with reports initiated by accounting. These variances may stem primarily from inter-fund transfers. Based on information noted in the “Daily Cash Position” The corporation holds a number of bank accounts as of 28 February 2015 including: a) CAHAT: Bank of Guam $ 210,713.60 Money Concepts $ 000.00 to be inter-funded: $ 8,847.04 Committed to new loans ( $ 00,000.00) Available funds.............................................. $ 219,560.64 b) First Time homeowner Relief Act $ 828,964.88 to be inter-funded: 4,123.72 Committed: ($ 255,247.20) Available funds: ……………………………………… $ 582,617.68 c) Hazard Mitigation, Bank of Guam $ 152,529.81 d) Federal Home Loan Bank of Seattle $ 41,433.96 e) Operations: *Bank of Guam account (gross) $ 1,922,125.46 Committed, ops or inter-fund: Program funds $ ( 46,400.29) For Inter-fund $ ( 96,621.06)

3

Operations $ ( 33,241.17) Reserves $ ( 21,500.00) Committed to new loans $ ( 673,000.00) Reservations $( 00.00) *Total committed, ops or inter-fund: $( 870,762.52) *Bank of Guam, ops, available funds $ 1,051,362.94 Merrill Lynch, TCDs $ 00.00 Money Concepts TCDs $ 45.69 Total available funds (for operations )………………............1,051,408.63 e) BoG Revolving Loan Fund (6% loan funds): Bank of Guam account (gross) $ 1,188,654.46 Funds transfer (inter-fund) $ 35,326.05 Total............................. $ 1,224,190.51 (Committed, new loans) ($ 927,423.90) Available funds, Bank of Guam.................... $ 296,766.61 Money Concepts $ 21.02 Total available funds ........................................................... $ 296,787.63 f) Borrower’s Trust Fund account, restricted: Bank of Guam $ 151,883.05 Money Concepts TCDs $ 271,208.85 Funds transfer (inter-fund) $ 31,711.60 Total, Borrower’s Trust Fund, gross $ 454,803.50 g) BoG Borrowers Deposit, restricted: Amount to inter-fund $ 991.91 Amount on deposit $ 79,474.09 Total $ 80,119.51 h) TCDs Foreclosure Protection Fund, restricted: $ 501,065.22 The balances in the following accounts are reflected as of 28 February 2015 i) Rent operations, Lada Gardens; Bank Pacific $ 703,212.89 Money Concepts Reserves $ (486,868.17) Total…………………………… $ 216,344.72

4

Available funds.............................................. $ 216,344.72 j) Tenant security (restricted) Bank Pacific $ 28,469.17 Bank of Guam TCD $ 38,136.78 Total.............................................................. $ 66,605.95 k) Self-insurance fund (restricted) Bank of Guam TCD $ 00.00 Money Concepts TCD $ 998,264.41 Bank Pacific $ 000.00 Reserves for Asat-Das /etc $

Total................................................. $ 998,264.41 l) Reserves for replacement: Bank of Guam TCD $215,879.10 Bank Pacific $471,475.76 Total $687,354.86 $ 400,000 will be transferred from the RFR for the Asat-Das/Sagan reservation reflecting an available balance of ………………………… m) Emergency housing fund, Bank of Guam TCD $ 86,147.17 Bank Pacific $ 15,392.41 Total............................................................................ $ 101,539.58 n) As-Atdas Operations, Bank Pacific ……………………………….. $ 4,647.38 o) Tenant security deposit (restricted) ……………………………….. $ 7,634.20 Total cash available for operations Rental Division ………… $ 216,344.72

5

Summary of Committed funds: Total committed to Affordable home program ………………… $ 500,000 ? Total committed to Asat-Das/Sagan …………………………… $ 400,000 ? Total committed to borrower’s mortgages ………………………… $ 1,600,423 Total committed to the FTHOA program …………………………. $ 245,247 Total committed ………………………………………………………………….. $1,845,671 5) Debt Service and Operations Operations: Personnel (incl benefits) $ 157,952 monthly, average Miscellaneous other, recurring $ 22,201 monthly, average retirees, cola, sup $ 23,567 monthly, average Rental, other $ 20,410 monthly, average Total......................................................................................$ 224,130 mthly, average CASH outlay for this month includes building renovations, $23,823; plus retiree’s benefits of $ 141,402 6) Financials; including Rental assets and liabilities: A) Balance Sheet; 1) Assets: Assets total $ 47,751,996 encompassing all monetary instruments and receivables; principal with respect to the “unrestricted” regular portfolio, $ 27,680,286 it may be noted that this is $ 975,424 less than the previous year and, as previously noted the corporation has $ 2,040,027 in its program portfolio. It also includes interest, accrued or $ 65,830. The allowance for loan losses equates to $ 576,418. There have been $------------ in losses written against this account fiscal year to date. 2) Other assets: The land and land held for development includes foreclosed assets total $ 399,949 other buildings, rental units include $ 6,657,206.

6

3) Investments and Restricted assets: This includes loans written against the Mortgage Revenue Bond and funds placed with the Bond Trustee with respect to the cost of issuance totaling $ 3,838,634; the Foreclosure Protection Fund at $ 501,065 and $ 6,9657,206 in restricted and unrestricted cash for special programs or trust including lending and rental operations and the self-insurance fund. 4) Liabilities Liabilities, short term and long, $ 250,399 in loans held in trust. Liabilities also include bonds payable around $ 4.42 million, the balance of the liabilities include $ 534,923 & 62,125 (escrow & borrowers deposits and tenant security) funds held in trust; $ 74,070 for the rebate liability with respect to the MRB. Total Liabilities equal $ 6,903,205. 5) Net Assets: Capital assets including buildings, vehicles or furniture at $ 6,706,126; Restricted assets including the revolving loan fund, CAHAT, foreclosure protection fund and escrow funds at $ 3,284,431 and Unrestricted assets including operational cash and loans receivable at $ 30,858,235 for a total of $47,751,996. B) Income Statement 1) The income for the period, fiscal year ‘15 to date reflects a loss of ($ 92,694), the income for the month reflects a loss of ($9,026). 2) The interest on loans receivable is exclusive of any accruals beyond 90 days. C) Cash on Cash The corporation has completed five month(s) of fiscal year 2015. The corporation’s cash available for operations was less than cash expended including capital outlays by $ 33,632 average per month, this includes the recovery of $860 or $ 215 average per month in interest previously placed in non-accrual, otherwise interest income was less than forecast by 3.66 %; $ 19,473 or $ 4,868 per month. ( the “cash available for operations” include rent receipts AND is compensating for the lower interest rates in portfolio driven income; the average interest income from loans (portfolio) and other investments (TCD’s); is reflected at $ 190,498 with monthly expenses at $ 224,130 or insufficient by $ 33,632 The net increase in the corporate portfolio fiscal year to date is at $ 202,661

7

7) Cash Projections: 8) Reports a) The corporation is required to submit its audited financial report to; 1) Bond Trustee within 180 days of the fiscal years end and, 2) The Speaker of the Guam Legislature; All reports have been completed on time, communicated via e-mail to addressees and available on the Guam OPA’s web site. b) The corporation is further required to prepare a separate annual report reflecting the performance of its loan portfolio as directed. c) Other reports as directed 9) Portfolio The corporation’s portfolio consists of a total of 416 loans encompassing $ 29,720,313 of these, 31 files totaling $ 862,748 are USDA loans; the others, 106 files, totaling $ 2,040,027 in funds accounted for in three (3) other, Interest and non- interest bearing categories: a) First Mortgages As of 28 February 2015 the corporation’s general loan portfolio of first mortgages stood at $ 27,680,286 consisting of 310 loans with a weighted average of 5.71 %. 2) Of these, The Revolving Loan Fund encompasses 150 loans with a current principal balance of $ 15,374,145 3) Also, and in partnership with the Rural Development program, the corporation has funded first mortgages for 31 loans within those included above in the 6% Revolving Loan Fund Program reflecting a balance of $ 862,748; (For the most part the corporation funds 20% of the applicants loan while holding 1st lien position with the balance or 80% funded by Rural Development). b) Second Mortgages; Third Mortgages, or “other” special category, program loans are as follows: 1) The portfolio for Hazard Mitigation is comprised of one loan or $ 9,863; 2) The Community Affordable Housing Action Trust includes 74 @ $ 1,780,439; 3) Down Payment and Closing Cost Assistance program includes 31 @$ 249,724;

8

c) Grant; (From the First-time Homeowner Relief Act of 1998) 1) The corporation has issued 125 grants totaling $ 423,193. These are not loans however may have recapture provisions as conditions apply. d) Grant; (From the First-time Homeowner Assistance Program of 2012) From the “Schedule of First-Time Homeowner”-The corporation has issued 251 grants totaling $ 1,901,754 with reservations for 33 more at $ 245,247. These are not loans however do have recapture provisions as conditions apply. e) Mortgage Revenue Bond loans: 1) The corporation has closed or caused to close 57 loans with respect to the Mortgage Revenue Bond program with a current balance just under $ 4,780,000. 10) Funds, (estimated) available (with TCD restrictions or 1 month’s reserves for expenses) for new loans: 1) CAHAT, (interest free)* (restricted) $ 219,561 2) Revolving Loan Fund, (6.00 %)* (restricted) $ 296,788 3) Hazard Mitigation * (restricted) $ 152,530 4) Housing Trust Fund (grant) $ 582,618 Total available for loans or grants, (restricted) ............................................$ 1,251,496 5) Regular Loan Program, (operations act & TCDs) $1,051,409 6) FHLB account $ 41,494 Total available, (Operations, Housing) ……………….. $ 1,092,843 7) Available from rents, Lada (Operations, Rental ) …………… ($ 216,345) 8) Total Operational Funds (Housing & Rental)…………...................................... $1,309,187 Total funds available,(operations & for loans or special program)……… $ 2,560,683 11) Other Funds, corporate, (Reserved): 1) Foreclosure Protection Fund* $ 501,065 2) Reserves for Replacements, rental $ 687,355 3) Self-Insurance Fund, rental $ 998,264 4) Emergency Housing Fund $ 101,540

9

5) Asat-das $ 4,647 Total RESERVED.............................................................. $2,292,871 12) Other Funds, TRUST , (Held-in-Trust): 1) Tenant Security Deposit $ 74,240 2) Borrower’s Trust Account $ 454,804 3) Borrower’s Deposit $ 80,120 Total TRUST.......................................................................... $ 609,163 Total, (RESERVED or TRUST) ...................................................................... $ 2,909,035 Total funds:........................................................................................................ $ 5,462,718 Clyde E. Beaver copy to:

Manager Loan Administrator Accounting Manager * appropriated and restricted by Public Law

Loan Number of Loan Month Program Loans Purchase Construction Amount

03-Oct-14 Cahat 1 1 0 40,000.00$ 30-Nov-14 Direct 2 2 0 281,200.00$ 31-Dec-14 Direct 1 1 0 180,000.00$ 31-Jan-15 None 0 0 0 -$ 28-Feb-15 None 0 0 0 -$

4 4 0 501,200.00$

Average Loan

Month Loan Interest Loan Home Loan Approved Purpose Rate Amount Price Processor

14-Oct-14 Purchase 5.125% 131,200.00 Emily Direct (SRF)12-Nov-14 Purchase 4.250% 150,000.00 Addie Direct (SRF)2-Dec-14 Construction 5.090% 78,000.00 Addie Direct (SRF)31-Jan-15 None - 28-Feb-15 None -

359,200.00$

Average Loan

Month Loan Interest Loan Loan Approved Purpose Rate Amount Processor

31-Oct-14 None5-Nov-14 Purchase 5.125% 180,000.00$ Susymae

31-Dec-14 None -$ 31-Jan-15 None -$ 28-Feb-15 None -$

180,000.00$

LOAN CLOSED - FISCAL YEAR 2015As of February 28, 2015

Type of Loan

125,300.00$

LOAN APPROVALS - FISCAL YEAR 2015As of February 28, 2015

132,300.00$

PRE-APPROVALS FISCAL YEAR 2015As of February 28, 2015

TOTAL GRANT APPROVALS: 289 2,917,943.57$ TOTAL GRANT DISBURSED: 248 1,766,742.16$

FIRST-TIME HOMEOWNER ASSISANCE PROGRAM APPROVAL AND DISBURSEDFROM JULY 12, 2012 TO DATE

Kotporasion Ginima' Gudhan

March 23, 2014

To: President

Fr: Michael Martinez GHC, M,mager

Re: Board Meeting lnfonnation

Allachments: Lada and As-ALdas 2014 Delinqucnt and Gross Rent listing I. The following infonnaLion is for tI,C mont11 of FEBRUARY 2014

A) Vac,mt units at Lada Gardens

• 3 two bedroom units ~ 133N246 - To be prepared for occupancy ~ 147 NI88 - To be prepared l'or occupancy by sLalT ~ 142N232 - Occupied by Homeless

• 4 t11ree bedroom units ~ 119/ 172 - To be prepared by slaIf

~ 180/245 - To be prepared by stalr ~ 406/215 - Under renovation by Contractor ~ IllB/235 - Occupied by Homeless

• 4 four bedroom units ~ 420/211 - To be prepared for occup,mcy by stafT ~ l llN234 - To be prepared l'or occupancy by stafT ~ 234/251 - Under renovation by contractor ~ 120B/227 - Ready for occup,mcy

~ 169/ 198 - Occupied by Homeless B) Vac,ml units at Guma As-Atdas

• 1 two bedroom units ~ B203 - To be' prepared for occupancy by stalT

~ AlO9 - Occupied by Homeless

• 5 t11rec bedroom units ~ AI06 - Occupied by Homeless ~ Al 07 - Occupied by Homeless ~ B206 - To be prepared for occupancy by stalf ~ B207 - To be prepared for occupancy by stall" ~ B211 - To be prepared lor occupancy by s~ill

590 S. Marine Corps Drive, Ste. 514lTC Building, Tamuning, Guam 96931 Telephone Number (671) 647-4143/46.Fax Number (671) 649-4144

C) Vaeant Units at S"!,'<ln Linahyan

Sincerely,

• lone bedroom unit

~ S 112- To be prepared for occupancy by staff

• 1 two bedroom unit ~ S206 - Occupied by Homeless

• 1 four bedroom ~ S 136 - Occupied by Homeless

.Af J.J /j /11:/;5 Michael Martinez

CC: Loretta hiarte, Board Coordinator

590 S. Marine Corps Drive, Ste. 514 ITC Building, Tamuning, Guam 96931 Telephone Number (671) 647-4143/46.Fax Number (671) 649-4144

DELINQUENCY

LADA GARDENS 30 DAY

M ONTH/YEAR # OF ACCTS TOTAL

Oct-14 26 $ 11,887.75

Nov-14 31 $ 15,633.18

Dec-14 30 $ 15,427.40

Ja n-1S 30 $ 14,504.06

Feb-15 28 $ 14,665.83

GUMA AS-ATDAS 30 DAY

MONTH/YEAR # OF ACCTS TOTAL

Oct-14 3 $ 55.00

Nov-14 3 $ 620.00

Oec-14 4 $ 1,848.00

Ja n-1S 4 $ 2,040.00

Feb-IS 6 $ 2,590.00

GROSS RENT (COLLECTED)

MONTH/YEAR LADA GARDE NS

Oct-14 $ 75,066.67

Nov-14 $ 48,240.31

Dec-14 $ 48,705.21

Jan-1S $ 56,493.31

Feb-I S $ 62,875.56

FY2015

DELINQU ENCY AND GROSS RENT REPORT

AS OF JANUARY 2015

60 DAY 90 DAY

# OF ACCTS TOTAL # OF ACCTS TOTAL

15 $ 14,083.79 3 $ 4,466.00

14 $ 13,563.46 8 $ 14,190.00

16 $ 17,901.46 11 $ 18,132.46

12 $ 13,266.50 14 $ 23,765.00

16 $ 16,340.00 8 $ 11,755.00

60 DAY 90 DAY

# OF ACCTS TOTAL # OF ACCTS TOTAL

5 $ 4,617.00 2 $ 3,050.00

5 $ 4,177.00 1 $ 1,710.00

4 $ 4,757.00 1 $ 1,400.00

6 $ 7,305.00 1 $ 1,830.00

3 $ 3,087.00 2 $ 3,748.43

GUMA AS-ATOAS TOTAL

S 9,403.02 $ 84,469.69

$ 6,463.38 $ 54,703.69

$ 4,798.00 $ 53,503.2 1

$ 5,070.00 $ 61,563.31

$ 9,675.00 $ 72,550.56

120 DAY 150+DAY

~ OF ACCT TOTAL # OF ACCTS TOTAL

6 $ 14,538.94 5 $ 21,909.84

6 $ 12,866.00 7 $ 27.753.78

4 $ 9,866.00 11 $ 42,268.78

9 $ 20,902.46 9 $ 41,459.78

10 $ 22,360.00 10 $ 43,250.00

I

120 DAY l SO+DAY

ill OF ACCT TOTAL # OF ACCTS TOTAL

0 $ - 5 $ 17,221.07

1 $ 1,600.00 3 $ 14,016.00

1 $ 2,060.00 4 $ 18,578.00

1 $ 2,050.00 4 $ 20,661.00

1 $ 2,080.00 3 $ 19,500.00

guam housing corporation

Documents